“Mr. and Mrs. Paducah will pay 25 cents per pound for their dressed Thanksgiving turkeys, according to a survey made yesterday of Paducah poultry dealers.”
This statement appeared on the front page of the Paducah Sun in November 1933, and at first glance, that seems like an awfully good price to the modern consumer. Heck, a twelve pound turkey would only cost you four bucks…flat.
Yet, with relation to inflation, the price of turkey is still very cheap…almost unbelievably cheap. A Kroger ad from this week advertised turkeys for sale for 78 cents a pound, which means that in the 82 years since 1933, turkey has only gone up 53 cents a pound. That translates to an increase of two-thirds of a cent per year and making that twelve pound turkey cost $9.36.
How little an increase is that? Consider this…the Consumer Price Index, which represents changes in prices of all goods and services purchased for consumption by urban households, states that 25 cents in 1933 would equal about $4.57 in today’s dollars. Therefore, if turkey had followed the standard rate of inflation, a twelve pound turkey would cost $54.84.